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Federal Budget Deficit to Top $1 Trillion in 2020

HeadlineAug 22, 2019

The Congressional Budget Office warned Wednesday the federal budget deficit is growing faster than predicted and is on course to reach $1 trillion for the first time since the Great Recession. This comes less than two years after Trump signed a $1.5 trillion Republican tax cut that overwhelmingly favors the wealthiest Americans, and as the Pentagon is set to receive a staggering $738 billion for the coming fiscal year.

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